Generali to reach 100% GPH ownership
28 July 2014 - 20:00
Trieste – Generali will reach 100% of GPH ownership by January 2015 following the option exercised by PPF for the disposal of its remaining 24% share, in line with the agreements signed on January 8, 2013. GPH is the holding company operating in Central-Eastern Europe.
The purchase of GPH’s outstanding share will be completed as per the terms previously announced to the market – a consideration of approximately € 1,235 million¹.
Generali today holds a 76% stake in the company with full management control. GPH is one of the biggest insurers in the CEE market with an excellent track record of profitability and leadership positions in many of the 10 countries where it operates. The CEE market is Generali’s fourth largest with approximately €3.5 billion of premiums (2013) and over 11 million customers.
¹ Subject to certain adjustments depending, inter alia, on GPH’s paid dividends until the closing.